South Korean MMO company HanbitSoft says it's rebooting the development of Mythos, the instanced-dungeon MMORPG that had been in progress at Flagship Studios before its collapse.

The Mythos team recently reformed to create Runic Games, developers of MMORPG Torchlight -- which studio head Max Schaefer recently told Gamasutra incorporates many of Mythos' design goals -- HanbitSoft, who has the IP rights, says the game's now in development by parent T3 Entertainment and Redbana U.S.

HanbitSoft unveiled a 'Developers Note Page' penned by a designer called Alboos, who writes: "Mythos is currently in a good condition where it’s being reconstructed. We are trying to keep the strengths that Mythos used to have, and strengthen them even more to make [it] more suited as an online game."

"Mythos is developed mainly by T3 and supported by Redbana," says HanbitSoft CMO Yoora Kim. "We are putting the development this way to embrace all kinds of systems that will work globally."

HanbitSoft also has the rights to defunct Flagship's Hellgate: London IP, which it operates in Korea. The company has said it would like to re-launch Hellgate in the West, but it is prevented from doing so by Namco-Bandai's publishing deal for the U.S. and Europe.

"Many gamers have been worrying and wondering about Mythos, but they don’t have to worry now," says Kim. "We are doing our best to develop the game globally popular."